Friday, February 20, 2015

Labor = Capital *

Looking at Japan's perennially and perniciously weak consumer spending, the marriage rates of those not in permanent employment versus those who are, the decades-long reign of "public servant" at the top of "What I want my child to be when he/she grows up" rankings (for example, Bandai - J or Kuraray - J) the speed at the checkout stands at Ozeki supermarkets (I was wrong, Ozeki does employ part-timers -- but only high school students it seems) I am beginning to think that the fundamental divisions of economic factors of production into Land + Labor + Capital are unhelpful and possibly harmful. Indeed, in light of the rise of the glaring social downsides of the increasing fraction of non-permanent workers in the workforce, it may not be hyperbolic to say that looking to the economists of Anglo-Saxon economies for advice on reforms of the Japanese labor market is much like asking anarchists for advice on reform of the banking system.

Yes, I will elaborate.

* Offer geographically restricted. Not available in some countries and territories.